Hyperliquid Strategies Digs Deep into HYPE as Token Slips Below Average Cost Basis

Nasdaq's largest HYPE holder, Hyperliquid Strategies, has made another significant purchase of $29.65 million in tokens over a 24-hour period, bringing its total to $252 million over the past two weeks.

The company has bought 3.029 million HYPE at an average price of $83.40, with the token currently trading near $80.

This latest purchase is not surprising given Hyperliquid Strategies' access to a $2.5 billion Chardan equity facility, which it expanded on September 1.

The company's treasury is not idle, having launched a validator alongside Unit Labs in May and accumulating over 31.8 million HYPE, worth around $2.513 billion at the time of disclosure.